Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-02-05
THE COUPON CRISIS.
LITIGATION VITAL TO vIRaryIAPEsD-
INe IN UHIrRD STATES COURTS.
The Law with Reference to Kev!y Char
tered corporations-rhe Cases
on the Docket.

On the DOCKET.
The debt question has come to the
front again with an irresistible impulse.
II is the thing now foremost in the mind
of the Governor, Of the Attorney-Gene-
raj, of the Auditor of Public Accounts,
of the Second Auditor, and OF the Trea-
surer. Members of the Legislature, too,
feel a reawakened interest in it, for it is
within the range of possibility that the
situation may require that they be called
together in extra session. II any one
could suggest practical scheme, which,
being passed into q law, would Smeet
all the e1igencies present and approach
ing, undoubtedly the extra session would
be ordered. At any rate, the subject is
pretty sure to drift into the fall cam
paign, and will be more or less danger
GUS as things happen within few
months to come.
Meanwhile the State authorities are
awaiting Developments, and are sum-
moning all their resources TO pilot the
old ship of State safely out Of the storm.
There is no thought of surrender; n
idea of compromise. Where one measure
of protection fails, doubtless another
will be devised.
LICENSES.
The hobeds corpus cases appealed
from Bond to the Supreme Court affect
the lcense-taxes only.
The assessed amount OF licenses Is
about 100000 per annum, and the
bulk of it is payable in May. Not a
large portion of it has ever been paid
in coupons, and, with the existing pub
lie sentiment, no very great increase is
to be looked for.
II is hoped that Judge Bonds opinion
can be reviewed by the Supreme Court
in thirty or sixty days. If Bond is
reversed, so well and so good for the
State; if he is sustained-well, that
will be different matter.
THE INDEMNIFYING BOARD INJUNCTION.
The suit brought by Mr.. Royal to
enjoin the Indemnifying Board from
continuing to reimburse mulcted
treasurers, and some other cases to be
heard along with it, are intended to
brush away all the other impediments to
the reception of coupons for taxes.
The Acknowledgement is hopeful OF
winning these suits, but-Judge Bond
has often disappointed us.
These vastly-important cases against
Virginia were TO have been heard at
Baltimore on the 18th, but yesterday
Acknowledgement Ayers received let
ter from Judge Bond stating that Judge
Hughes had sienified his desire to be
present when they were heard, and that
Judge Hughes could not go to Balti-
more during February. Therefore
Judge Bond wished counsel to write to
Judge Hughes and ascertain when
Judge Hughes could meet him in Bal
timore to hear the cases.
So this litigation stands.
The drummers who have rendered
coupons are going on with their bust
ness, and some Virginia merchants az.
buying from them.
COUPONS AND CORPORATE CHARTERS.
Judge Beverley A. Hancock, of the
Second judicial circuit, in granting the
Crystal Ice Company, of Petersburg, a
charter upon the express condition that
its State taxes should be paid in money
and not in coupons, acted rs he was re-
quired to do by the statute law of this
State.
For the benefit of the Dispatch read
ers we publish extracts from the law.
fActs Of Assembly. 1894. page 229 chapter
1s2, approved February p, lSSil
81. BE 10 enacted by the General
assembly Of Virginia, That no COM
pany or corporation, either foreign or
domestic, shall hereafter be chartered
or Incorporated, either by the General
Assembly or by the courts; neither
shall there be passed or granted any
renewal, amendment, or extension OF
any charter or act of incorporation
heretofore granted, ercept upon cOnii-
ton that said company or corporation
shGH pay dHofits tares, d,tes, and de-
nlands due the .Hdtc, or that may be
hereafter osscssed against II, in ia1c-
ful money Of the United ,SiqteS, and
not in coupons.
Acts Of Assembly 1856. page HS, chapter
eos. approved March 3, 1851
81. BE il CRacted by the Gcncrai
assembly Of Virginia, That every cor
poration hereafter chartered by the
General Assembly Of this Common
wealth or under The laws thereof, and
every corporation now in existence
whose charter shall hereafter be
amended, renewed or extended, shall
pay all taxes and levies assessed against
it in current money of the United
States, and that euery such charter
shdU be granted upon the cypress
condition that said t0rGs and tsUics
assessed against il wiH be so paid.